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PolkaWorld Suspends Operations after Polkadot's Treasury Denies Funding Request

PolkaWorld stops its functions due to Polkadot's treasury's denial of funds; concerns over OpenGov system are raised.

Mon, 18 Sep 2023, 06:26 am UTC

The digital community of PolkaWorld has paused its activities following the refusal of a funding request from Polkadot's treasury. This recent decision stirred conversations about the challenges faced by entities seeking funds from the treasury.

Previously, Polkadot operated under a governance framework where a council, composed of experts elected by Polkadot (DOT) token holders, evaluated and determined the fate of submitted proposals. PolkaWorld pointed out the effectiveness of this past system, suggesting its integration into Polkadot's newly introduced OpenGov platform. In contrast to the old system, OpenGov enables direct governance by DOT tokenholders. Every tokenholder has the ability to influence the platform by participating in voting sessions on various proposals.

PolkaWorld's announcement, shared on the official X platform, indicated the treasury's recent rejections have led several organizations to depart from the Polkadot ecosystem. The primary concern expressed was that the OpenGov system, while aimed at promoting democratic participation, might be sidelining long-standing contributors to the ecosystem. These entities feel that their efforts and contributions are undervalued or overlooked in the new decision-making process.

In a related incident, Markian Ivanichok, the mind behind Brushfam, a platform facilitating businesses' integration into Polkadot, voiced his decision to part ways with Polkadot via an X thread. Ivanichok cited challenges in securing financial support and lamented the perceived lack of appreciation for their contributions. He further highlighted concerns about Polkadot's seeming indifference towards its user base and the marketing of its offerings.

Launched earlier this year, the OpenGov system was initiated to enhance inclusivity by giving every DOT tokenholder the ability to mold the future of the platform. However, these recent incidents might prompt Polkadot to revisit and potentially refine their governance approach.

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